Overview of IRS Stimulus Checks
Initially planned by the United States federal government, stimulus checks are financial grants that started during the pandemic. The main goal behind the creation of Stimulus Check is to help people financially when facing challenging circumstances financially. Due to this many people are also known to go through mental and physical pain. While not having the required money to get some treatment themselves. In this instance, the federal government is not the only one who has played a huge role as the state government has also a big role in providing IRS Stimulus Checks. Before, these stimulus checks were distributed regularly every month, but with changes in the federal government and state governments it was discontinued. Nonetheless, the state government of many states has continued to supply financial aid to its citizens through Surplus tax rebates and budgets to every taxpayer residing within state borders.
In March 2024, it was unanimously, decided that five American states would be part of this stimulus check program through tax rebates. In order to learn whether your state falls under the distribution of IRS Stimulus Checks. This article could be the place for you to gather that information.
The official site- irs.gov
IRS Stimulus Checks March 2024: Eligibility Criteria
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Income brackets
One of the first things that is checked before an individual is deemed eligible for this IRS Stimulus Checks is their annual income. After adjusting gross income, a few points are looked at.
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Single Filers
On checking the gross income, the adjusted payment was found to be $75,000.
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Head of the family
The head of the household is subjected to receive the full payment if their adjusted annual gross income is found to be $112,500. They are also allocated the full payment under this financial scheme. But such individuals need to file their tax returns on time or else they could be disqualified from the tax rebates.
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Married couples
Any couple who has a joint adjusted gross income amounting up to $150,000 would be given full payment. However, if their income starts to increase gradually this payment would start decreasing.
For instance, if an individual income increases by $5-$100 over the bracket their overall payment would start to decrease. Similarly, for people who are heads of households their income would start reducing after $112,500. And, the couples after $150,000 annually.
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Tax filing dates
Any individual who is looking to avail of the benefits through stimulus checks must have filed their income tax returns on time. Remember, your tax filing status will determine whether you will be given this payment or deemed non-eligible.
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Family members or dependents
Each dependent in your family that you have included in your tax returns would impact eligibility. It was decided that for stimulus checks provided in the year 2024, each dependent would determine how much additional payment you would receive. These dependents would consist of children under the age of 18, college students and older adults.
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Immigration viability
For non-US citizens, the eligibility criteria are said to vary. For example, any individual who has received their social security number might be eligible for this payment.
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Social security numbers
Everyone in your family including your spouse should have a social security number in place for qualifying into stimulus check eligibility.
List of states receiving the IRS Stimulus Checks 2024
Here is a thorough explanation regarding the rebates that some states are going to receive. However, you must be eligible for those rebates or else you could miss out on those stimulus checks.
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IRS Stimulus Checks – Alabama
In order to receive or be deemed eligible to receive your Alabama tax rebate, each taxpayer should have filed their income state returns before October 17, 2022. Meanwhile, the people who are deemed ineligible consist of non-residents, estates or trusts, and anyone who has shown dependent status in the year 2021.
This $300 rebate announced by Alabama will be provided as a one-time payment to every eligible candidates. This is meant to improve the financial condition of people residing in Alabama. Nevertheless, if you are a couple in Alabama hoping for such tax rebates you would be given $150.
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IRS Stimulus Checks – Arizona
The next state on our list is Arizona, whose aim is to provide financial assistance to taxpayers having dependents on their tax returns. When it comes to providing financial help, it is given out in the form of tax refunds or rebates. This overall amount will be given to eligible taxpayers before March 15, depending upon the number of dependents on the tax returns.
More than 750,000 Arizona taxpayers will be allocated this tax rebates based upon the eligibility criteria met. Moreover, if you have managed to file your tax returns on time while showing one dependent. In that case, you will receive $250 for each.
Additionally, this amount could reach $750 if you have three children in total. But the ones who are aged 18 or older will be given $100.
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IRS Stimulus Checks – Virginia
Virginia has selected the date of March 30th for distributing their tax rebates to eligible candidates. This means people who have filed their tax returns individually will receive $200. On the other hand, the ones who have opted for joint tax returns would receive $400.
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Other states
Some other states that have decided to offer these tax rebates are New York $500 to $1000, Florida $250 and Georgia $450.
Candidates who are hoping for their IRS stimulus checks in March 2024, need to keep a close eye on the payment status. As there could be changes in the government protocols regarding tax laws and regulations. If so, then there might be some changes that you could be unaware of.
